Paul Ryan’s 2012 budget, “The Path to Prosperity,” is an impressive document aimed at fostering economic growth and sustainable government. Here are some of the numbers that jump out:
$6.2 trillion — Amount of spending cuts proposed relative to President Obama’s 2012 budget request.
$5.8 trillion — Amount of spending cuts proposed relative to the current CBO baseline.
2008 — Ryan’s plan would bring non-security discretionary spending to below 2008 levels (pre-stimulus, pre-bailout, pre-Obama).
20 percent — Target spending levels (as a percentage of GDP).
$4.4 trillion — Total deficit reduction over 10 years called for under the plan, compared to $4 trillion under Bowles-Simpson and just $1.1 trillion under Obama’s 2012 budget.
$4.7 trillion — Total debt reduction relative to Obama’s budget.
$178 billion — Amount of saving achieved in the Defense Department budget, per the recommendations of Defense Secretary Robert Gates, $100 billion of which would be reinvested, the rest used to reduce the deficit.
$750 billion — Total savings achieved through Medicaid reform, in the form of block grants to states, giving governors greater flexibility in their budgets.
2022 — Year that proposed Medicare reforms would take effect.
25 percent — The top tax rate proposed for both individuals and companies.
18-19 percent — Target revenue levels (as a percentage of GDP), in keeping with historic average levels.
$800 billion — Total amount of tax increases eliminated by repealing Obamacare.
1 million — Private-sector jobs created over the next year.
4 percent — Projected unemployment rate by 2015.
$1.5 trillion — Projected growth in real GDP over the next decade.
$1.1 trillion — Estimate increase in wages over 10 years, yielding an average increase in income of $1,000 per year for each American family.
10 percent — Proposed reduction to the federal workforce over the next three years.
$120 trillion — Total debt reduction by 2050 relative to Obama’s budget.
For a good laugh (or shock), see here.